Junto Capital Management LP Sells 40,496 Shares of Performance Food Group Company $PFGC

Key Points

• Junto Capital Management reduced its Performance Food Group stake by 3.9% in the second quarter, selling 40,496 shares and retaining 998,146 shares worth approximately $111.6 million. Institutional investors collectively own 96.87% of PFGC.
• Analysts remain broadly bullish: 12 analysts rate the stock a Buy and one rates it a Hold, producing a consensus “Moderate Buy” rating and a target price of $126.90.
• PFGC recently traded at $95.52, down 1.3%, while its latest quarterly results slightly missed expectations with EPS of $1.59 versus $1.60 and revenue of $18.03 billion versus $18.11 billion, though revenue increased 6.7% year over year.

Junto Capital Management LP lowered its position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 998,146 shares of the food distribution company's stock after selling 40,496 shares during the period. Performance Food Group accounts for about 2.0% of Junto Capital Management LP's holdings, making the stock its 15th biggest position. Junto Capital Management LP owned 0.63% of Performance Food Group worth $111,583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in shares of Performance Food Group during the 1st quarter valued at $28,000. Asset Planning Inc purchased a new stake in shares of Performance Food Group in the first quarter worth $35,000. Lloyd Advisory Services LLC. bought a new stake in Performance Food Group during the fourth quarter valued at $43,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Performance Food Group during the second quarter valued at $51,000. Finally, Clearstead Advisors LLC grew its position in Performance Food Group by 132.9% during the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company's stock worth $53,000 after buying an additional 335 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider A. King sold 8,023 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $104.21, for a total transaction of $836,076.83. Following the transaction, the insider directly owned 47,800 shares in the company, valued at $4,981,238. This trade represents a 14.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hugh Hatcher sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total transaction of $297,540.00. Following the transaction, the insider owned 58,167 shares in the company, valued at $5,769,003.06. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 50,910 shares of company stock valued at $5,335,910. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PFGC has been the topic of a number of research analyst reports. BMO Capital Markets restated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Weiss Ratings upgraded Performance Food Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 27th. Sanford C. Bernstein reissued an "outperform" rating on shares of Performance Food Group in a report on Thursday, August 13th. Morgan Stanley upped their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $133.00 target price on shares of Performance Food Group in a research note on Thursday, August 13th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Performance Food Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.90.

Performance Food Group Stock Down 1.3%

PFGC opened at $95.52 on Thursday. The business's fifty day simple moving average is $108.41 and its 200 day simple moving average is $98.75. Performance Food Group Company has a 52 week low of $80.82 and a 52 week high of $117.47. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The stock has a market cap of $15.05 billion, a PE ratio of 41.71, a P/E/G ratio of 1.24 and a beta of 0.88.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The firm had revenue of $18.03 billion for the quarter, compared to the consensus estimate of $18.11 billion. During the same period last year, the firm earned $0.84 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts expect that Performance Food Group Company will post 5.6 earnings per share for the current fiscal year.

Performance Food Group Company Profile

Performance Food Group Company NYSE: PFGC is a food and food-related products distributor serving businesses across the United States and Canada. The company supplies restaurants, foodservice operators, schools, healthcare facilities, hospitality businesses, vending and entertainment venues, and convenience stores.

Performance Food Group operates through three primary businesses: Foodservice, Vistar and Convenience. Its offerings include fresh and frozen foods, dry groceries, beverages, ingredients, disposable supplies, and specialty products such as candy, snacks and theater concessions.

Want to see what other hedge funds are holding PFGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Performance Food Group Company (NYSE:PFGC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.